Tag: loans

“Citigroup is reportedly staring down losses of as much as $180 million on loans to an Asian hedge fund after the fund’s foreign-exchange trades went sideways” writes Alex Morrell for businessinsider.com. Citi’s FX prime brokerage unit — which lends to hedge funds — will be pulled from the currency trading division and put instead under its prime finance and securities services division, according to the report. Source: businessinsider.com Share This:

“We have been more cautious in the extension of credit, initial credit lines, the broad-based credit line increase programs,” he said” writes Midwest Communications Inc for 95kqds.com. (Reuters) – As U.S. bank stocks tanked this month over fears of an impending recession, industry executives downplayed concerns to colleagues, analysts and journalists, arguing that the economy is in great shape.Even so, bankers and analysts say the next recession will look much more like the 2001 tech bubble bursting than the 2007-09 global financial crisis.”We are in somewhat of a goldilocks period…

“For-profit colleges qualified for federal student loans have tuitions 78 percent higher than their non-Title IV counterparts” reports washingtonexaminer.com. While these debts were attributed to a specific, dying breed of colleges, the greater effect of student loans across colleges, public and private, nonprofit and for-profit, remains.Federal financial aid and student loans in particular will continue to act as a piggy bank for bloated campus bureaucracies, and their tuition pricing can continue to spiral out of control. Source: washingtonexaminer.com Share This:

“If you’ve received a live check, take these steps, whether you plan to cash the check or not” writes Steven Nicastro for businessinsider.com. Chris Jackson received a live check in the mail last November for $2,500 with a 28% interest rate. Source: businessinsider.com Share This:

“Facing increased competition for influence from China, the Trump administration unveiled a new strategy for Africa focused on commercial ties, counterterrorism, and better-targeted U.S. foreign aid” writes Krishnadev Calamur for theatlantic.com. In a wide-ranging speech Thursday at the Heritage Foundation, a conservative think tank in Washington, D.C., John Bolton, President Trump’s national-security adviser, explicitly warned that the ultimate goal of Beijing’s “predatory” influence over Africa was to advance China’s global dominance. Source: theatlantic.com Share This:

“Student-loan borrowers may be racking up billions of dollars in extra debt needlessly” writes Jillian Berman for marketwatch.com. But there are other reasons, besides a lack of knowledge, why borrowers may be winding up in forbearance.Colleges at risk of losing access to federal financial aid because too high of a share of their students are defaulting on their student loans will often hire these consultants.Nykiel advises borrowers make themselves aware of their options before they even call their student-loan servicer to make sure they don’t wind up in forbearance unwittingly. Source:…

“Chairperson of the Agricultural Bank of Egypt (ABE), El Sayed Elkosayer, said that his bank allocates about 30% of its total loan portfolio towards farmers and crop production, as well as agricultural development projects” writes Hossam Mounir for dailynewsegypt.com. About 25% of the loan portfolio is directed to animal production projects, 20% to agricultural mechanisation projects, and 25% to individual, consumption, and workers’ loans, added the ABE’s chairperson.Elkosayer explained that the bank’s loan portfolio increased from EGP 22bn in March 2016 when he took office, to about a current EGP…

“Starkey graduated from George Washington University in 2014 with about $40,000 in student loans and has paid down roughly half” writes Teddy Nykiel for marketwatch.com. Then focus on other priorities, like getting your employer’s 401(k) match and paying off high-interest debt, before paying extra on student loans.I know my student loans have to be paid, so I tick off that from the total in my head.He still owes about $19,000 in student loans, plus credit card and car debt.My entire paycheck will go to the mortgage (yikes), and the mileage reimbursement from work…

“For sophisticated bond market investors, no three words invoke more fear and debate than “inverted yield curve.”” writes unknown author for cnbc.com. Yet many individual investors don’t understand inversion and why a healthy fixed-income market is so critical to their financial well-being. With the near-800-point drop in the Dow on Tuesday being at least partially attributed to the sudden inversion of short- and longer-term Treasury yields, it is time to take notice. Source: cnbc.com Share This:

“Itau Unibanco, also a major Latin American banking group, and Standard Chartered both offer international banking services” writes Ana Berman for cointelegraph.com. Brazil’s largest private bank has partnered with United Kingdom bank Standard Chartered to create a blockchain-based platform for small loans, according to a press release published by Itau Tuesday, Dec. 4.French banking group BNP Paribas and Japan’s bank holding Mitsubishi UFJ Financial Group (MUFG) also participated in the trial. Cointelegraph has also reported that U.K.-based bank Natwest was set to launch a similar blockchain platform based on R3…